CBL holds a cash account at the custodian. Against payment settlement in PHP may either take place within Standard Chartered Bank when the broker maintains an account with them, or may take place on the cash account of Standard Chartered Bank, Philippines at the local central bank.

The settlement becomes final and irrevocable once both cash and securities have settled.

Legal arrangements

The below section is based on the legal opinion that was issued on8 August 2017. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.